Should You Consider Neptune Marine Services?

  • Dec 03, 2018 AEDT
  • Team Kalkine
Should You Consider Neptune Marine Services?

Not so long ago, Neptune Marine Services (ASX: NMS) reported their results for the half year which ended on September 30, 2018. During the six months ended September 30, 2018, the company incurred a pre-tax loss of $3.864 million. The management of the company also provided insights with respect to the financial results. These results witnessed the negative impacts because of unfavorable market fundamentals with respect to global oil as well as gas industry. The clients have been delaying the projects which are non-essential as well as they are also making lower capital and operating expenditure. In the interim financial report which was released, the company stated that they have been conducting their operations with important clients. These include operations related to the manufacturing as well as engineering which have been undertaken in the United Kingdom with respect to GE as well as BP, the work related to the survey in the Australia with respect to Ichthys field which is being handled by the Inpex, the work related to the diving with respect to Australia for the Chevron which is at the Barrow Island as well as other scopes for the diving with respect to South32 at the Groote Eylandt facility. However, service solutions (integrated) which are being advanced to the Oil Search which is in Papua New Guinea or PNG is also one of the crucial projects.

The interim report which was released also contained information related to the company’s working capital. The management of the company reflected favourable views for the working capital. They stated that its working capital happens to be in the robust position as its current working capital amounts to $9.468 million. Moreover, the company has managed to generate positive operating cash flows amounting to $0.584 million. Talking about the dividends, in the six months which ended on September 30, 2018, the company did not pay or declared any sort of dividends.

The management of the company also gave views related to future developments as well as business strategies. In the interim financial report, the management stated that they would be aiming towards increasing the revenues as well as they would also adopt the strategy of disciplined cost management. In addition, the company would also be focusing on identifying the complementary partners as well as they would also be working towards new growth avenues.

Neptune Marine Services ended the session on December 3, 2018 on the negative note. The stock settled at A$0.250 per share which implies the fall of A$0.070 per share or 21.875%. The market capitalization of Neptune Marine Services is $19.66 million, and the company’s stock price is trading towards the lower range.


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